Is Somerset County, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Somerset County was a Seller's Market.
Key Takeaway
Somerset County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Somerset County, PA
How much do homes in Somerset County, PA cost?
Median Sold Price
$195,000
$116/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Somerset County have sold for 6.4% more than they did a year ago.
Summary: The median home sold price in Somerset County was $195,000 in April 2024, up 6.4% from last year, and the median price per square foot was $116.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $202K | $78K | -61.4% |
| 2 Bedrooms | $132K | $134K | +1.5% |
| 3 Bedrooms | $185K | $205K | +10.8% |
| 4 Bedrooms | $229.9K | $202.4K | -12.0% |
| 5+ Bedrooms | $220K | $570K | +159.1% |
Summary: Somerset County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 61.4%, 2 bedroom homes increased by 1.5%, 3 bedroom homes increased by 10.8%, 4 bedroom homes decreased by 12%, and 5+ bedroom homes increased by 159.1%.
Median Sold Price Compared To Nearby Counties
| Bedford County | $176K | $206K | +17.0% |
| Somerset County | $183.2K | $195K | +6.4% |
| Westmoreland County | $192.7K | $204.9K | +6.3% |
| Fayette County | $160.8K | $162.4K | +0.9% |
Housing Supply in Somerset County, PA
How many homes are available in Somerset County, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 136 | 134 | -1.5% |
Summary: The Somerset County real estate market had 134 homes for sale in April 2024, a 1.5% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 27 | 25 | -7.4% |
| 3 Bedrooms | 64 | 61 | -4.7% |
| 4 Bedrooms | 33 | 32 | -3.0% |
| 5+ Bedrooms | 8 | 11 | +37.5% |
Summary: The Somerset County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes decreased by 7.4%, 3 bedroom homes decreased by 4.7%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes increased by 37.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 24 | 21 | -12.5% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Somerset County, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 21 homes were sold or pending in Somerset County in April 2024, down by 12.5% month-over-month. Of the 21 sold homes, 43% were sold under asking, 38% were sold at asking, and 19% were sold over asking.
Days on Market for Somerset County, PA
How long does it take to sell a home in Somerset County, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 33 Days | 45 Days | +35.6% |
Summary: Homes in Somerset County had an average of 45 days on market in Apr 2024, up by 35.6% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Somerset County are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 21 homes were sold in Somerset County; 48% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
